World Bank Warns , Global Economy Teetering , Towards Recession.
On January 10, the World Bank warned that
the global economy is "perilously close"
to experiencing a recession in 2023.
Al Jazeera reports that the World Bank warning comes
amid weak growth among all of the world's top economies,
including the United States, Europe and China.
Al Jazeera reports that the World Bank warning comes
amid weak growth among all of the world's top economies,
including the United States, Europe and China.
Al Jazeera reports that the World Bank warning comes
amid weak growth among all of the world's top economies,
including the United States, Europe and China.
The World Bank's annual report said the
organization will slash its previous forecast
for global growth this year by nearly half.
Previously, the global money lender predicted global
growth would come in at 3%, however the latest
annual report modified that prediction to 1.7%.
The World Bank predicts that the U.S.
might narrowly avoid a recession this year,
despite annual growth of just 0.5%.
.
At the same time, the U.S. will remain vulnerable to
further disruptions of supply chains if COVID continues
to surge or Russia escalates its war in Ukraine.
Russia’s invasion of Ukraine has added
major new cost.
The outlook is particularly
devastating for many of the poorest
economies where poverty reduction
is already ground to a halt and access to
electricity, fertiliser, food and capital is likely
to remain limited for a prolonged period, David Malpass, World Bank President, via Al Jazeera.
According to the World Bank,
poorer countries are expected to be
hit the hardest by a global downturn.
.
Meanwhile, the tepid pace of per capita
income growth of just 1.2% in 2023 and
2024 is expected to increase poverty rates.
Addressing the scale of these challenges
will require significantly more resources
for development and global public goods, David Malpass, World Bank President, via Al Jazeera
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Ukraine's air force reported shooting down a Russian strategic bomber, but Moscow officials countered that the plane crashed in a sparsely populated area due to a malfunction post-combat mission.
Credit: euronews (in English) Duration: 01:24Published
House GOP Advances Aid Bills , for Israel, Ukraine and Taiwan.
The foreign aid bills were advanced by a
9-3 vote, thanks to the help of four Democrats on the committee, CBS News reports. .
Those Democrats are Jim McGovern, Mary Gay Scanlon, Joe Neguse and Teresa Leger Fernández.
Those Democrats are Jim McGovern, Mary Gay Scanlon, Joe Neguse and Teresa Leger Fernández.
Those Democrats are Jim McGovern, Mary Gay Scanlon, Joe Neguse and Teresa Leger Fernández.
Those Democrats are Jim McGovern, Mary Gay Scanlon, Joe Neguse and Teresa Leger Fernández.
Conservatives who voted against the bills,
because border security wasn't lumped in, include Tom Massie, Ralph Norman and Chip Roy. .
Conservatives who voted against the bills,
because border security wasn't lumped in, include Tom Massie, Ralph Norman and Chip Roy. .
A final vote on the foreign aid package
will take place on April 20. .
The three bills would support Israel,
Ukraine and Taiwan with $26.4 billion,
$60.8 billion and $8.1 billion, respectively. .
The three bills would support Israel,
Ukraine and Taiwan with $26.4 billion,
$60.8 billion and $8.1 billion, respectively. .
The three bills would support Israel,
Ukraine and Taiwan with $26.4 billion,
$60.8 billion and $8.1 billion, respectively. .
$9.1 billion of the Israel package would go toward Palestinian humanitarian efforts. .
A fourth bill seeks to allow the sale of Russian oligarchs' assets that have been frozen in order to continue funding Ukraine.
possibly "force the sale of TikTok
and authorize stricter sanctions on Russia, China and Iran," CBS News reports. .
possibly "force the sale of TikTok
and authorize stricter sanctions on Russia, China and Iran," CBS News reports. .
Some far-right Republicans have threatened to remove House Speaker Mike Johnson from his position for supporting additional Ukraine funding.
Johnson defended his actions, calling lethal aid for Ukraine "critically important.".
If I operated out of fear over
a motion to vacate, I would
never be able to do my job, House Speaker Mike Johnson, via statement.
Look, history judges us for what we
do. This is a critical time right now
critical time on the world stage. , House Speaker Mike Johnson, via statement.
I could make a, you know I can make
a selfish decision and do something that, that's different. But I'm doing here
what I believe to be the right thing, House Speaker Mike Johnson, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Former U.S. vice president Mike Pence is confident that U.S. military support for Ukraine is forthcoming.
Such a congressional approval has the support of majorities of the political parties as well as the American people, Pence said in an interview with Euronews in Brussels.
Credit: euronews (in English) Duration: 01:27Published
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On January 20, elites from the worlds of politics, business,
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